Is CEREUS for real with their plan?

After months of literally no word from Cereus officials, the Kahnawake Gaming Commission (KGC) has stated that Blanca Games, the parent company, has submitted a plan to the U.S. Department of Justice (DOJ) that would repay all players. It doesn't mention if the plan would allow for full or partial repayment to players, though.

The KGC statement indicated that Blanca Game, the parent company of Absolute Poker and Ultimate Bet, has been preparing a proposal for the DOJ over the last several week that would liquidate the company assets in an effort to distribute funds back to US and non-US players owed money.

The KGC has been involved in the regular discussions and that a potential solution has been officially submitted to the DOJ for consideration and approval.

The timing of the KGC announcement is interesting in that Blanca faced a October 31 deadline to file a claim for assets seized by the DOJ.

Most poker players and affiliates had long ago given up hope that any funds would be returned as offices shut down, were moved, and the player traffic and limits on withdrawals reduced down to almost nothing. It would appear that the proposal would involve the DOJ returning seized Blanca funds to allow for redistribution to player in lieu of complete confiscation of funds.

Can this be believed? or just a marketing ploy? Will the DOJ agree to redistribute confiscated funds?

1 Response

Holder & the DoJ are under siege! If you American players can put pressure on your Senators & congressman to get them to open up! Especially those of you who's reps are on the Judiciary Committee. Anyone got friends in any of these peoples offices, call'em (heck call anyways no matter if u do or not) or email them, but say something where they can see it, if these guys can find the time to pass a law on TV commercial volumes, US players can get them (in an election year) to move on this! Target (oops did I say that) the ones who are up for re-election & pin them down when they come a calling for your vote!